SBI has launched a $660 million Web3 venture capital fund, which is just a glimpse of the recent influx of large capital into the crypto space

Author: DeMan

The cryptocurrency market has recently experienced a significant upward trend, which is reflected not only in the growth of market value but also in the notable recovery of investor confidence and increased market activity. Particularly in the fields of Web3 and decentralized finance (DeFi), we have witnessed a series of innovations and developments that are attracting the attention of venture capitalists worldwide. They are not only looking for new investment opportunities but are also actively exploring how to position themselves advantageously in future markets.

Behind this trend is a broad recognition of the potential of blockchain technology and confidence in digital currencies as an important component of future finance. As technology continues to mature and application scenarios expand, the cryptocurrency market is gradually becoming the focus of global investors, heralding a more diverse and innovative financial future.

This article will provide a detailed overview of recent fund news in the cryptocurrency sector, exploring the deeper implications behind these dynamics and their potential impact on future market directions, thereby offering readers a unique market perspective.

GFR Fund III Completes $53.5 Million Fundraising, Focusing on the Metaverse

Event Summary: On November 7, 2023, San Francisco-based venture capital firm GFR Fund announced the successful completion of $53.5 million in fundraising for its third fund, "GFR Fund III."

Investment Focus: The fund will primarily invest in areas such as generative AI, gaming, entertainment, and emerging digital-native communities. Specifically, about one-third of the investments will be allocated to gaming content and technology companies, another third will focus on emerging entertainment companies, including those involved in generative AI, and the remaining third will be invested in consumer technology companies.

Portfolio and Strategy: GFR Fund has already made several investments in the crypto ecosystem, including the fashion-focused metaverse data analytics company Geeiq, the Web3 collectibles market and platform Collectibles, the metaverse AI animation tool developer Any World, the NFT social platform Based, and the crypto live streaming platform Stacked. Additionally, GFR Fund III will not only invest in gaming companies but will also pay attention to non-gaming startups and plans to invest in regions outside the United States, such as Europe, Asia, or Africa.

Ninety Eight Launches $25 Million Ecosystem Fund

Event Summary: On November 7, 2023, Web3 innovation company Ninety Eight announced the launch of a $25 million ecosystem fund. This initiative marks an important milestone for the company following its rebranding from Coin98 Finance to Ninety Eight, showcasing its deep commitment to the Web3 space and strong confidence in future development.

Investment Goals and Strategy: The primary goal of this fund is to promote the growth and development of Web3 startups in Asia. As a vibrant and innovative market, Asia has enormous potential and a diverse technological innovation environment. Through this fund, Ninety Eight will provide financial support and resource sharing for emerging enterprises in the blockchain technology and digital currency sectors, particularly those with groundbreaking innovations in decentralized finance, smart contracts, NFTs, and related technologies.

Long-term Impact: Ninety Eight's initiative not only injects new vitality into Asia's Web3 ecosystem but also offers new perspectives and possibilities for the development and application of blockchain technology globally. By supporting these startups, Ninety Eight is expected to drive the entire blockchain industry towards greater efficiency, security, and scalability, while creating more value for investors and users.

Dora Ventures Launches Appchain-Themed Fund, Focusing on Quality Public Chain Projects

Event Summary: On November 8, 2023, Dora Ventures announced the successful fundraising of its Appchain-themed venture capital fund, although the specific amount has not been disclosed. This achievement marks an important advancement for Dora Ventures in the blockchain investment field.

Investment Focus and Strategy: The Dora Ventures fund will primarily invest in leading Appchain projects and their related infrastructure. Appchain, as an emerging blockchain architecture, focuses on providing more efficient and flexible application layer solutions. This investment strategy reflects Dora Ventures' profound insights into the future development direction of blockchain technology, particularly in enhancing the scalability and performance of blockchain applications.

Industry Impact and Outlook: This investment initiative by Dora Ventures is significant not only for the development of Appchain technology but also brings new vitality to the entire blockchain ecosystem. By supporting these innovative technologies, Dora Ventures is expected to promote the broader application of blockchain technology across various industries, especially in the development and deployment of decentralized applications (DApps). Furthermore, this fund will also provide investors with opportunities to engage with this emerging field, signaling potential new trends and innovative directions for blockchain technology in the future.

Blueport Interactive Launches $15 Million BTC NEXT Fund, Focusing on Bitcoin Network Ecosystem

Event Summary: On November 8, 2023, Hong Kong-listed company Blueport Interactive Group announced the launch of a $15 million investment management fund, BTC NEXT, focused on the Bitcoin network ecosystem. This initiative marks Blueport Interactive's proactive layout in the cryptocurrency field and its strong confidence in the Bitcoin ecosystem.

Investment Focus and Strategy: The BTC NEXT fund is defined as a seed fund, focusing on investing in emerging crypto assets within the Bitcoin network ecosystem. This includes various types of asset issuance protocols, trading markets, scaling solutions, virtual machines, NFTs, real-world asset tokenization (RWA), and GameFi games. Blueport Interactive's strategy aims to deeply explore and leverage the innovative potential within the Bitcoin network ecosystem, promoting the diversified development of the crypto asset market.

Industry Impact and Outlook: By establishing the BTC NEXT fund, Blueport Interactive not only embraces the Web3 space but also promotes innovative value based on the Bitcoin network ecosystem within the Hong Kong capital market. The establishment of this fund is seen as an important step in driving innovation in blockchain technology and the cryptocurrency market, indicating that the crypto asset market will welcome broader applications and developments. Additionally, Blueport Interactive plans to regularly disclose its crypto investment portfolio, providing transparency and new opportunities for investors to engage with the Bitcoin network ecosystem.

Japan's SBI Group Launches $660 Million Venture Capital Fund, Focusing on Web3 and AI

Event Summary: On November 9, 2023, Japan's prominent financial giant SBI Holdings announced plans to launch a venture capital fund with a scale of up to $660 million (approximately 100 billion yen) within 2023. The establishment of this fund is an important move by the SBI Group in the fields of Web3 and artificial intelligence (AI), aimed at promoting technological innovation and business development in these areas.

Investment Focus and Strategy: This fund will focus on investing in startups in the fields of Web3, AI, and the metaverse. It is expected to support 150 to 200 startups at different stages, with investment amounts ranging from hundreds of millions to billions of yen. This strategy reflects SBI Group's long-term commitment to emerging technology fields and support for innovative enterprises.

Industry Impact and Outlook: The establishment of this fund by SBI Group not only provides important financial support for Web3 and AI startups in Asia and globally but also injects new vitality into the development of the entire industry. The fund has received support from several well-known financial institutions, including Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance, and Daiwa Securities Group, further demonstrating the financial sector's recognition of the future development potential of Web3 and AI technologies. Through this fund, SBI Group is expected to promote technological innovation globally and provide fertile ground for emerging enterprises to grow.

Standard Chartered Bank and SBI Collaborate to Launch a $100 Million Cryptocurrency Fund

Event Summary: On November 9, 2023, international financial giant Standard Chartered Bank's investment division SC Ventures announced a collaboration with Japan's financial group SBI Holdings to jointly establish a $100 million cryptocurrency fund in the United Arab Emirates. The establishment of this joint venture fund marks an important collaboration between the two financial institutions in the cryptocurrency field.

Investment Focus and Strategy: The fund will focus on investing in crypto startups in areas such as decentralized finance (DeFi), tokenization, infrastructure, payments, and the metaverse. Its goal is to invest globally, covering companies from seed rounds to Series C financing stages. This strategy reflects Standard Chartered and SBI's optimism about the potential of the cryptocurrency market and their proactive attitude towards promoting financial technology innovation.

Industry Impact and Outlook: This joint venture fund between Standard Chartered and SBI not only provides important financial support for crypto startups but also adds confidence to the development of this emerging market. Through this fund, the two companies are expected to promote the application and development of cryptocurrency and blockchain technology globally, particularly in cutting-edge areas such as DeFi and the metaverse. Furthermore, this collaboration also showcases the increasingly strengthened connection and interaction between traditional financial institutions and the emerging cryptocurrency market.

Nomura Securities Launches Ethereum Adoption Fund Designed for Investors

Event Summary: On November 9, 2023, Laser Digital, the digital asset subsidiary of Nomura Securities, announced the launch of an Ethereum Adoption Fund designed for institutional investors. This initiative marks Nomura Securities' further deepening in the cryptocurrency field, especially its focus on Ethereum, a major cryptocurrency.

Investment Strategy and Goals: The fund will primarily invest in long positions in Ethereum spot markets and plans to generate returns through staking Ethereum. This strategy reflects confidence in the long-term value of Ethereum while providing institutional investors with a relatively stable cryptocurrency investment channel. Through this fund, Nomura Securities aims to offer institutional investors a safe and compliant cryptocurrency investment option while also promoting the adoption and recognition of Ethereum in broader financial markets.

Industry Impact and Outlook: This initiative by Nomura Securities not only provides additional funding support for Ethereum but also brings more institutional investors into the cryptocurrency market. The launch of this fund helps enhance the maturity and attractiveness of the entire cryptocurrency market, especially for institutional investors seeking diversified investments in the cryptocurrency space. Additionally, Nomura Securities' participation as a traditional financial institution symbolizes the increasing status of cryptocurrencies in mainstream finance.

Maven 11's Third Fund Actively Raising $100 Million

Event Summary: On November 9, 2023, cryptocurrency-focused venture capital firm Maven 11 announced that it is raising $100 million for its third fund. The goal of this fund is to complete fundraising in the first half of next year, and so far, one-third of the funds have been committed by limited partners.

Investment Focus and Strategy: Maven 11's fund will focus on startups in the cryptocurrency sector, covering various fields such as decentralized finance (DeFi), tokenization, infrastructure, payments, and the metaverse. The fund plans to invest globally, covering companies from seed rounds to Series C financing stages. This indicates Maven 11's optimistic outlook on the long-term growth and innovative potential of the cryptocurrency market.

Industry Impact and Outlook: This initiative by Maven 11 is a significant boon for startups in the cryptocurrency sector. It not only provides funding support for these companies but also offers them opportunities to connect with experienced investors. Furthermore, Maven 11's fund demonstrates the attractiveness of the cryptocurrency market to venture capitalists, especially in the current market environment where investor interest in high-growth potential cryptocurrency sectors is increasing. With more capital inflow, it is expected that innovation and development in the cryptocurrency sector will accelerate.

Lightspeed Faction's Early Crypto Fund Exceeds Fundraising Goals, Raising $285 Million

Event Summary: On November 9, 2023, blockchain-focused venture capital firm Lightspeed Faction announced the launch of a $285 million early-stage crypto fund. The fund initially aimed to raise $250 million but ultimately exceeded this goal due to strong market response, reaching $285 million.

Investment Focus and Strategy: This fund will focus on investing in early-stage blockchain projects at the seed or Series A financing stages. The average investment size is expected to range from $5 million to $10 million. Lightspeed Faction's strategy reflects its emphasis on early-stage innovation in blockchain technology and confidence in the future development of this field.

Industry Impact and Outlook: This fund by Lightspeed Faction is a significant boost for early-stage blockchain projects. It not only provides necessary funding support but also connects these startups with experienced investors and industry experts. Additionally, the establishment of this fund reflects the investment community's long-term optimism about blockchain technology, especially in areas such as Web3, DeFi, and the metaverse. With these funds being injected, it is expected to promote innovation and application of blockchain technology, driving the entire industry forward.

Metabit Foundation Blockchain Ecosystem Fund Expands to Over 10 Countries

Event Summary: On November 10, 2023, Metabit Network announced the establishment of the Metabit Foundation blockchain ecosystem fund in Singapore, marking a new journey in the global blockchain field. The Metabit Foundation plans to officially launch in early 2024, aiming to incubate diverse ecological projects globally and promote the globalization of blockchain technology.

Strategy and Implementation Plan: The foundation will adopt a synchronous online and offline approach, launching global mining programs in 10 countries, including the United States, Japan, Germany, South Korea, India, Brazil, the Philippines, Vietnam, Canada, and Thailand. This strategy aims to promote the vigorous development of new projects and provide broader participation opportunities for global users.

Industry Significance and Outlook: The establishment of the Metabit Foundation is seen as an important initiative in the blockchain industry, aimed at making a positive contribution to technological innovation and the prosperity of the global ecosystem. Representatives of the foundation emphasize the principles of openness and transparency, working with global partners to promote the development of blockchain technology. Singapore, as its headquarters, will provide a robust regulatory environment and innovative atmosphere, positioning the Metabit Foundation as a leader in the blockchain ecosystem. With the injection of these funds and the implementation of projects, it is expected to drive the application and innovation of blockchain technology globally, bringing new development opportunities to the entire industry.

Conclusion: The Influx of Funds Represents Traditional Finance's Growing Optimism Towards Crypto Assets, Future Market Trends Worth Watching

With the launch and implementation of this series of funds, the cryptocurrency sector seems to be experiencing a spring once again. The establishment of these funds not only reflects investors' confidence in the crypto market but also heralds a new wave of growth and innovation in this field, which could have profound implications for the long-term development of Web3. These investments drive technological innovation and hold significant potential for the entire cryptocurrency ecosystem. From the development of Web3 to the application of blockchain technology, from the integration of AI to the exploration of the metaverse, various funds are injecting new vitality and possibilities into the cryptocurrency market.

Despite the uncertainties and challenges that still exist in the market, the emergence of these funds undoubtedly brings new hope and opportunities to the entire cryptocurrency field. They not only support technological innovation and business growth but also provide investors with diversified options. In this rapidly changing market, the trends and outcomes of these funds will be worth continuous attention. With more capital inflow, we can expect more innovation and development in the fields of Web3 and related technologies, bringing new vitality and opportunities to the cryptocurrency market.

Overall, it seems that the spring of funds in the cryptocurrency sector has once again arrived, bringing new technologies, new market opportunities, and new growth momentum. In the future, we can look forward to how these funds will drive the development of the entire industry and bring more innovation and breakthroughs to the cryptocurrency market.